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Mitsubishi Electric Establishes Direct Presence in Turkey



  Mitsubishi Electric Establishes Direct Presence in Turkey

       New company to expand business in Turkey and surrounding regions

Business Wire

TOKYO -- January 7, 2013

Mitsubishi Electric Corporation (TOKYO:6503) announced today the establishment
of Mitsubishi Electric Turkey A.Ş., giving the company its first direct
presence in Turkey. The new company will act as a base to expand and support
Mitsubishi Electric Group business in Turkey and surrounding regions.

Mitsubishi Electric's business in Turkey currently includes air conditioning,
factory automation and infrastructure-related products such as satellites,
elevator/escalators and electrical equipment for railcars. Sales totaled 9.8
billion yen, approximately 112 million USD, in the previous fiscal year that
ended March 2012.

Turkey's nominal GDP was the world's 18^th largest in 2011 at $774 billion,
thanks to spending by the country's growing middle class and a large working
population. Turkey's real GDP growth rate was also high at 8.5% in 2011 and
steady growth of 2-4% is predicted in 2012 and beyond. Mitsubishi Electric has
positioned Turkey as a priority market based on this growth potential.

 
Name                       Mitsubishi Electric Turkey A.Ş.
Location                   Headquarters: Istanbul
President                  Kei Uruma
Paid-in capital            2.26 million Turkish Lira (approximately 100
                           million yen)
Ownership                  Mitsubishi Electric Europe B.V.: 70%
                           Mitsubishi Electric Corporation: 30%
Registration               December 7, 2012
                           1. Marketing, including market research
Activities in Turkey and   2. Setting up sales networks and managing
surrounding regions        distributors
                           3. Social infrastructure-related business
                           development
                            

About Mitsubishi Electric

With over 90 years of experience in providing reliable, high-quality products,
Mitsubishi Electric Corporation (TOKYO:6503) is a recognized world leader in
the manufacture, marketing and sales of electrical and electronic equipment
used in information processing and communications, space development and
satellite communications, consumer electronics, industrial technology, energy,
transportation and building equipment. Embracing the spirit of its corporate
statement, Changes for the Better, and its environmental statement, Eco
Changes, Mitsubishi Electric endeavors to be a global, leading green company,
enriching society with technology. The company recorded consolidated group
sales of 3,639.4 billion yen (US$ 44.4 billion*) in the fiscal year ended
March 31, 2012. For more information visit http://www.MitsubishiElectric.com

*At an exchange rate of 82 yen to the US dollar, the rate given by the Tokyo
Foreign Exchange Market on March 31, 2012

Contact:

Mitsubishi Electric Corporation
Customer Inquiries
Europe, the Middle East and Africa Group
Global Strategy & Marketing Division
Tel: +81-3-3218-3137
or
Media Inquiries
Katsunobu Muroi, +81-3-3218-2346
Public Relations Division
prd.gnews@nk.MitsubishiElectric.co.jp
http://www.MitsubishiElectric.com/news/
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